ATFX CopyTrade is an automated service that is designed to allow traders to invest passively in the forex and CFD market by copying other successful professional traders on the ATFX copy trading leaderboard. This service aims to shorten the learning curve for newbie traders by providing them with an opportunity to mirror the trades of other traders that are already achieving success in the forex/CFD market.
Table of Contents
- What is Copy Trading and Why Should Traders Consider It?
- How to Get Started with Copy Trading
- Advantages of Copy Trading with ATFX
- Risks and Limitations of Copy Trading
- Popular Copy Trading Terms
- Copy Trade With ATFX: Overview and Key Features
- Start Your Copy Trade Journey Now
- FAQs
What is Copy Trading and Why Should Traders Consider It?
Copy trading entered the retail FX market in 2006 but did so in a form considered rudimentary by today’s standards. Since then, copy trading has evolved from the manual system of copying trade signals. We are now at a stage where a copy trade engine automatically replicates the trades from the Provider’s account to that of the subscribed traders.
A senior executive in trading education firm OSCE once said in an interview that it takes about two years for a new trader to acquire the experience to become successful. The question is: how many traders have two years to do this?
Most new entrants into the forex market do not have two years to commit to learning. Some may be too busy with their primary jobs and daily schedules. For these, copy trading holds the maximum benefit, as it shortens the learning curve and removes the need for trade analysis, which takes a lot of time.
The words “copy trading” simply mean copying the trades of another. Trades have several elements.
There is the analysis part, where the trader looks at several parameters and determines the direction of the trade.
The trade order component is where the trader sets one of several potential pending or market-price-based orders that mirror the trader’s thinking of where the asset is headed.
There are the entry and exit orders (manual closure, protection stop/stop loss, and take profit orders).
Every order includes the name of the asset being traded, the order size, the type of order, and conditionals (good till canceled, good till entry, etc.).
In a copy trading platform, there are two sets of traders:
the Provider of the trades and
the Follower who copies the trades.
When a Follower subscribes to follow the Provider’s trades, the trades are automatically replicated on the Follower’s account.
Apart from copying the exact entry and exit points, the copy trade engine automatically works out the trade size to be copied based on the defined risk settings on the Follower’s account. Providers and Followers do not have similar account sizes, so it is impossible to copy the same trade volume used by the Provider on the Follower’s account.
The percentage of capital held by the Follower versus that of the Provider determines the trade size used in the copied signals in the same ratio.
How to Get Started with Copy Trading
To get started with copy trading, it is essential to follow laid-down procedures to ensure you get the best start.
Choose a broker for copy trading
Choosing a broker for copy trading differs slightly from just choosing one for regular forex trading. This is because there are several features that such a broker must have in place to facilitate a seamless and beneficial experience for both Providers and Followers.
Here are some steps to consider when choosing a broker for copy trading.
The broker needs to be regulated. Regulation is all about customer protection, and both Followers and Providers need to be able to work knowing that their funds are safe and secure.
Copy trade platforms typically display leaderboards where top traders can display their trading stats. However, a broker with a copy trading engine must go further to incorporate specific analytics highlighting the critical aspects of the Provider’s trading activity. This also helps the potential Follower to make informed selections of whose trades to copy.
A suitable broker for copy trading should have various payment channels to help their clients access the service, irrespective of country of origin or domicile.
Features of the ATFX CopyTrade Platform
Once you log in with the details you were provided on approval of your account application, you will be presented with the dashboard.
There are four tabs on the ATFX CopyTrade dashboard:
My Portfolio
My Account
Transaction History
Ranking
Open a trading account
To access the ATFX CopyTrade platform, you must first open an account with ATFX. Here is a step-by-step guide to opening a trading account on ATFX.
On accessing the ATFX website, you would automatically be directed to the home page, from where you can fill out the account opening form. The first step involves filling out your biodata, including your name, phone number, and email, and entering the CAPTCHA. Tick the check box affirming you are over 18 years old and agree to the ATFX Standard Terms of Business (please read this first).
Verify your identity, address and contact information on the next page. Documents to be attached include copies of your international passport/driver’s license/national ID and your utility bill/bank statement.
Once your account is approved, you will be provided with your login details.
Once you have your login, head over to https://atcopytrade.com and sign up for the Copy Trading service as an Existing ATFX Client.
Select a strategy and trader to follow
When choosing a Provider’s trades to follow, it is essential to understand some elements of that Provider’s trading metrics to see if that strategy suits you.
How aggressive or conservative is the trader’s strategy?
How long has the Provider been trading?
What is the profitability of the Provider like?
How long do the Provider’s trades last? (this indicates whether the Provider is a scalper, swing or position trader).
What is the profitability chart like? You want to see a chart that shows a gradual but steady climb and not a zig-zag chart that paints a picture of inconsistency and heavy drawdowns.
Your selection of a Provider will also have to consider your situation, risk appetite, the amount of capital at your disposal, and your profit goals. Some traders want aggressive trading styles that can produce profits quickly, while others may be more conservative and want smaller returns based on a less aggressive trading style. No size fits all, and the job of this article is not to make any recommendations. Choose a Provider that matches your goals and risk appetite.
How to view and analyze trader performance
Set up copy trading
Setting up your copy trading account on ATFX is a simple process. ATFX has designed the onboarding process so that once you have a regular trading account with ATFX, you can access the ATFX CopyTrade service with a few clicks of your mouse.
Once you have signed up and want to subscribe to a Provider, click on New Subscriptions. In the open dialogue box, scroll down and select the Provider to follow under the Provider tab. Pick from any of the Providers listed, then click on Create. Usually, the stats of the Provider and the subscription fee is displayed. Once you click the “Create” button, the system will allow you to follow that Provider.
You may also click on Rankings, then click on your preferred Provider’s profile. Once the profile opens, click “Invest” on the top right of the screen.
Monitor and adjust your copy trading activity
The forex market is very dynamic, meaning that you have to review the performance of your Provider’s strategies and tweak your selections continually to ensure they keep up with the changes in the forex market. This is why you cannot afford not to monitor your copy trading activity.
Also, some other Providers’ strategies may outperform the one(s) whose trades you are currently copying. Trader performance could also drop off with time. All these points indicate one thing: you must be ready to change those whose trades you follow periodically.
How can you adjust your copy trading portfolio when changing your Provider?
Constantly check the leaderboard to see which traders are topping, how their strategies work, and if their trading styles match your goals and risk appetite.
Check your profit performance over time. Is there a drop in profitability, or are you now incurring many losses? If this is the case, it may be time to change your Provider.
Do you notice that there are times when the trades you are copying do not perform well? Is there any other Provider that is doing well in those times? You may have to make some changes in this regard.
Try to use a virtual private server with your MT4 or MT5 client to reduce the latency of your trade executions. Using a VPS helps when there is a lot of volatility and price swings.
Tips for adjusting your strategy or trader if needed
As you participate in the copy trade process, you will find out that you will constantly need to adjust your portfolio by changing the Providers you copy. At other times, you may need to tweak some parameters with the same Provider, such as adjusting the lot size of the trades copied to your account to match acceptable risk management standards. What you want to do concerning the tweaks you want to make will determine how you go about it.
One way to look out for new Providers who may have started outperforming the ones you have chosen is to study the performance charts. In the snapshot above, you can see at least two where the charts plateaued after a period of gains. There is one which started off losing but picked up and has been on the ascendance (chart to the right). There is also another which displays a zig-zag performance that indicates some inconsistency. These are pointers to the performance of the Providers in question.
Advantages of Copy Trading with ATFX
Copy trading today would not be thriving if there was no demand for it, and if it was not a system that works for many people. There are definitely advantages to copy trading, and more so if you do it on the ATFX CopyTrade platform.
Access to Expertise
The immediate advantage that users of ATFX CopyTrade’s platform will get is that they can access the expertise of more experienced traders, thereby shortening their learning curve and hitting the ground running.
It takes many months and up to 2-3 years to start getting good at trading, and only if the trader is dedicated to learning, researching, backtesting, and mentorship. You will skip many initial obstacles when you copy the trades of the experienced and profitable Providers on the ATFX CopyTrade platform.
Typical returns chart for a Provider on ATFX CopyTrade
You may have heard that no coach changes a winning team. In forex trading, you do not need to reinvent the wheel if you can copy the same trades of those who have already invented their wheels and are moving on profitably. Furthermore, you can also access better risk management techniques than you would ordinarily be able to pull off on your own.
Practice makes perfect. After every trade, there is always the opportunity to go back and reverse engineer the trades to understand what thought processes went into the analyses and execution of each position. In that manner, you start improving your trading skills without knowing it.
Time-Saving
Copy trading with ATFX CopyTrade will save you a lot of precious time. Copytrading will help you eliminate all the time spent analyzing charts, chasing pips all over the market, and scanning through several news sources. The only real work you do is to use the selection metrics to pick the right Provider. Everything else is automated once connected to the Provider’s signals using the copy trade engine.
This is a significant advantage to those with hectic schedules at work, school, or other activities. How possible would it be to be in a lecture hall and analyze a chart for a potential opportunity? How can you monitor trades in the bank, shopping mall, office space, or tending to a baby as a domestic helper? These are impossible situations where trading profitably is just not possible. But once you subscribe to a profitable Provider on the ATFX CopyTrade platform, your trades are executed and closed without your input, a great time-saving process.
Diversification
Copy trading is not only for newbies. Even traders with some level of experience and success can create a copy trading account as a means of portfolio diversification. You can trade your main account on ATFX actively and still follow another Provider passively using a copy trade account. Even successful traders who want to profit from having other traders copy their trades can use the copy trade platform for a second income stream. Such diversification of income is never a minus.
For those who copy the trades of others on ATFX CopyTrade, you should also know that nothing stops you from copying the trades of multiple Providers.
No two Providers trade the same asset. You can pick one Provider who trades gold, another who trades the EUR/USD, another who trades the Brent crude contract, and yet another who is at home with the US stock indices to get a well-rounded, well-diversified portfolio that gives you multi-asset exposure. Since some markets will consistently outperform others at various times, you can use the gains of one Provider to make up for any losses incurred from another Provider.
Lower Costs
Copy trading can be a cost-effective way to participate in the markets. You get the same level of service as if you had to use a Forex robot. Forex robots can be expensive, and many do not allow one to look into any form of history that can be used to gauge profitability. The best you will ever have is backtests, which are usually a poor gauge of future profitability. Furthermore, you are less likely to get your money back once you have purchased a Forex robot. If the robot becomes a junk product, you are out of luck!
But with a copy trade service, you avoid the costs of purchasing indicators and robots, and the struggle of conducting backtests on every asset, a time-consuming process. Subscription fees for the ATFX CopyTrade service are pocket friendly, and some traders can cover the costs with a single day of successful copy trades.
Easy to Get Started
It is easy to start with copy trading as it requires no previous experience. Everything has been simplified on the ATFX CopyTrade platform. A few clicks of the mouse button on your computer are all you need to get connected. It all starts with opening your trading account with ATFX. This is a 3-step process that is made very easy. Once you have obtained your login details, you can sign up for the ATFX CopyTrade account in one step.
After gaining login access, it is time to choose the Provider you wish to follow. There is a Leaderboard that features all Providers and their performance stats. You can click against each Provider’s profile and perform a deeper analysis of aspects of their trading, such as risk management, profitability over a selected period, or the number of pips gained in a day, a week, a month, or a quarter.
Risks and Limitations of Copy Trading
Copy trading in itself does not eliminate the various risks that exist in the market. It is important that those using this service as a passive investment understand the risks that copy trading can pose to their accounts.
Lack of Control
One of the risks of copy trading to Followers is that they do not have complete control of their trades once they have signed up for the service. They are at the absolute mercy of the Followers whose trades they are copying. If a Follower suddenly turns unprofitable and loses ten trades in a row, the same results are replicated on the Follower’s account.
All elements of the Provider’s trades are copied: risk exposure size, entry and exit prices. If a Provider is risking more than the recommended 5% of his account size in trades, the same measure of risk is applied to the Follower’s account. If the Provider uses risk-reward ratios that do not conform to acceptable risk management standards, the same ratios are applied to the Follower’s account.
Since the Follower cannot set their stop loss or take profit levels, they are entirely vulnerable to any poor judgments and trading decisions of the Provider. The only way to prevent this is to unsubscribe from the Provider’s trades completely. Any subscriptions are not usually refunded, so you must choose your trade Providers carefully.
Over-Reliance on Signal Providers
Copy trading makes the Follower dependent on the Provider. The ATFX CopyTrade platform only presents the opportunity. It is your job as a trader to select the Provider to follow. If you choose wrongly, everything else will follow suit. If you cannot use the trading metrics and statistics of the Providers at your disposal to make an informed choice of whose trades to copy to avoid finding yourself in hot waters.
This over-reliance on signal/trade providers has its merits and demerits. Suppose you depend 100% on the trades provided by the trader you follow, and you cannot detect changes in strategy or market conditions that may pose a risk to profitable outcomes. In that case, you will have problems along the way. The lesson here is not to rely too much on signal providers. It pays to have some knowledge so you know when to disable the copied trades from a faltering Provider or when to choose another Provider entirely.
Risk of Fraud and Scams
Any industry or sector with high financial turnover will surely attract the bad guys. Forex is not immune to scams, so do not expect any less from the copy-trading industry. You must know how to protect yourself from the common scams within the copy-trading industry.
What kind of scams can occur in copy trading?
Misrepresentation of trade results by fraudulent signal providers. Some signals providers have found ways of deleting a bad run of results so it does not show up in their trade history.
Manipulation of market inefficiencies.
Posting unusually high trade returns without highlighting the serious risk involved is a practice that paints a one-sided picture of what can happen in the market if unduly high risk is used. Some Providers use a lucky run of results as the source of their trade history.
Traders should also be wary of Providers with unusually high returns without other metrics backing up these returns. You may end up subscribing to the services of a Provider who has thrown risk management to the dogs, and you could lose your money very quickly.
Market Risk
What are market risks? Market risks are events in the forex market that can lead to sudden and unexpected capital loss. These risk events include news trades, slippage, and other events beyond human control, such as natural disasters, outbreaks of war, a global pandemic, or terrorist attacks with global ramifications.
Several examples of such risk events have occurred in the last twenty years. Copy trading does not protect the trader from or eliminate market risks.
9/11 terrorist attacks on several targets in the US on 11 September 2001 caused a severe market upheaval that struck several financial markets.
The 15 January 2015 de-pegging of the Swiss Franc from the Euro by the Swiss National Bank.
The earthquake in Christchurch, New Zealand, in 2011 caused a massive safe-haven demand and strengthening of the Japanese Yen, necessitating intervention by the Bank of Japan.
The unexpected premarket interest rate cut by the Federal Reserve on 22 January 2008.
The sudden outbreak of the Libyan civil war in 2011
The outbreak of the COVID-19 pandemic in March 2020. This also led to several unscheduled and unexpected interest rate cuts by global central banks, creating a massive shock in the currency markets.
If you have any active trades placed on your account via a copy trading portal, you will be exposed and could suffer devastating losses. These market risk events are usually unexpected and cause severe market shocks. They typically cause slippage, which overwhelms the ability of brokers or counterparties to honor pre-set stop loss settings.
It will help if you remember that such events can occur and you can protect yourself as much as you can for such times.
Lack of Customization
Copy trading has sometimes been likened to a master-slave relationship, though not in the strict sense. Anything the Provider does regarding trading reflects on the Follower’s account without the latter’s input. The Follower has no say in the trade process or trade outcome, which means that the Follower cannot perform any form of customization.
Trade Statistics for a Provider
It is impossible to adjust the Provider’s trading style to match the risk preferences of the Follower. You cannot choose what assets the Provider trades or change the Provider’s trading style to match your preferences. So you are forced to accept every element of the Provider’s trading behaviour.
If a Provider gets too emotional on a particular trading day and starts to make trading errors, the best the Follower can do is to unfollow that Provider completely. There is no chance of a refund in such circumstances. This is why you must consider your individual needs and only select a Provider who can match your preferences with their risk management, trading style, and overall performance.
Popular Copy Trading Terms
Social trading
Social trading is a form of trade practice where traders come together in communities to trade the market, as opposed to individual traders working alone. Copy trading is an advanced form of social trading where there are leaders (Providers) whose trades are copied by the rest of the subscribed community.
Mirror trading
Mirror trading is a system in which investors or traders in the forex market copy the trades of other more experienced and relatively more successful traders. Copy trading is a form of mirror trading which automates the process.
Copy trading platforms
Copy trading platforms are automated trade engines that take the trades of experienced traders and automatically place these same trades on the accounts of less experienced traders who are subscribed to the service.
Copy trader/follower
A copy trader/follower is a trader who registers on the ATFX CopyTrade platform to have the trades of any experienced traders they are subscribed to automatically replicated on their trading accounts. To be a Follower, you need to register an account with ATFX, then sign up for the copy trade service and subscribe to follow the trades of another experienced trader.
Provider
These experienced traders register on the ATFX CopyTrade platform to have their trades subscribed to and copied by other less experienced traders. To be a Provider, you must have generated a decent amount of trading history, allowing potential Followers to assess your trade metrics as they decide on whose trades to copy.
Pips
Also known as Percentage Interest Point, the pip is the smallest unit of price change in a currency pair and is equivalent to 0.0001 points (i.e. 1/10,000th of a point). Therefore, if a currency pair has moved from 1.1103 to 1.1178, the price change is 0.0075 points or 75 pips.
Risk management
Risk management refers to the set of rules and principles that guide the setting of trade positions in the Forex or CFD market, enabling a trader’s account to survive any adverse price movements in the market.
Stop loss
Also known as a protection stop, and the stop loss is an order to the broker to automatically close the trade if the price action has moved against the trader’s position by a set number of pips. The SL is used to prevent the trader from suffering devastating losses.
Take profit
The Take Profit (TP) is an instruction to the broker to close the trade automatically if the price action has moved in the direction of the trader’s position by a set number of pips. The TP is used to lock in any unrealized profits in a trade.
Slippage
Slippage is a market risk event in which there is a difference between the price set by the trader for the execution of an order and the actual price at which that order is executed.Slippage occurs during times of market volatility that is so extreme that it becomes impossible to find matching counterparty orders to fulfil a trader’s orders.
Drawdown
The drawdown in forex refers to the percentage by which a trade, the equity or the margin has dropped from its peak before it recovers this peak. Drawdowns in copy trading usually result from the Provider practising poor risk management, rendering improper entries or trading in extremely volatile market conditions.
Copy Trade With ATFX: Overview and Key Features
Introduction
ATFX is a forex and CFD broker which also has as one of its products, a copy trading service. Typically, copy trading platforms are offered to the investing public by non-brokerage companies. By offering an in-house copy trading platform, ATFX has made it possible to directly incorporate all processes that are involved in the copy trade process. Trade results of Providers are taken directly from their trading history on the ATFX platform, providing the potential Followers with inviolable analytics and data to facilitate an informed selection of the experienced traders they choose to follow.
The ATFX CopyTrade engine also allows profitable traders to add a second stream of income to their regular trading activity by allowing potential Followers to copy their trades for a nominal fee.
Signal Providers
There are three parties to the copy trading service: the Provider, the copy trade broker (ATFX) and the Follower (a passive investor who copies the trades). Anyone can be a Signal Provider, provided you can demonstrate that you have a long history of profitable trading and solid risk management.
Profile of Provider showing assets traded and number of trades per asset
As a Provider, ATFX CopyTrade will provide you with the platform to showcase your skills and trading history to the world. You will be competing with others for the subscription of Followers, so it is essential as a Provider to trade in such a way that potential Followers will have the confidence to follow your trades and replicate your profitable results. There is a Leaderboard that displays various metrics by which selections are made.
As a Follower, you will be provided with a list of several potential Providers. You can make your informed choice based on several trading parameters such as profitability, previous performance, drawdown %, trading style, and risk appetite. The benefit of choosing a good Provider becomes imminent as their profits become your profits as well.
Learn more about how copytrade works for followers and providers, the process, and its advantages and disadvantages.
Customizable Settings
Copy trading platforms, like ATFX, allow all Followers to customise certain settings to attain optimal risk management on their accounts. This is because account sizes differ. A trader with a $1,000 account who follows a Provider with a $100,000 account cannot take the same lot sizes as the Provider, as this would not be a good risk management practice. This is why copy trading platforms allow Followers to adjust risk settings, take profit/stop loss settings and other metrics that are defined uniquely to each platform.
Looking at the ATFX CopyTrade interface, we can see a few metrics that Followers can adjust. For instance, how is the trade size adjusted?
There is a tool known as the Volume Scaling tool. This is used to set the ratio of the copied trade’s volume to that of the Provider. Three settings are recognized: Autoscale, Multiply and Fixed. A volume multiplier allows you to specify the fraction of the Follower’s trade size in relation to that of the Provider. If a Follower wants his lot size to be a tenth of the Provider’s lot size, the volume scaling is set to Multiply, and the Volume Multiplier is set to 0.1.
Real-time Performance Monitoring
Once you have started following a Provider, your profit performance based on the Provider’s trades is visible. You can click against the Follower’s name to see their recent trading stats. Copy trading platforms like ATFX provide real-time performance updates of all Providers so that Followers can reassess their data to see if the performances are holding up to market scrutiny.
Suppose a Provider is not performing according to the Follower’s expectations. In that case, the Follower has a choice to either Pause the copying of that Provider’s trades or to unsubscribe from the Provider completely. These two actions can be done from the same place using the click of a mouse button.
Auto-copy Trading
How do copy trading platforms like ATFX deliver auto-copy trading functionality? A copy trading engine acts as the intermediary between the Provider and the Followers who have subscribed to receive the Provider’s trades. The copy trading engine is programmed to ensure the Provider’s trades are replicated in real-time on their Follower’s accounts using the defined parameters.
The automated nature of the process ensures that traders do not have to do anything manually as far as the trades are concerned. Once a profitable Provider is chosen, the trader must check their results periodically and see how their portfolio is doing. As highlighted earlier, Followers are free to choose any number of Providers they desire to give their portfolio the diversification that ensures a lower-risk profile and good exposure to various markets.
Risk management tools
What are the market risks that Followers can encounter during copy trading?
News trading risks.
Risky behaviour from Providers they follow.
The drop-off in performance of a previously profitable Provider.
Improper Volume Scaling settings.
The Volume Scaling tool is used to ensure that the trades from Providers are only replicated on the Follower’s account in the same measure of exposure relative to the Follower’s account sizes. You do not want to be trading 2.0 lots on a $1000 account as a Follower if the Provider has a $100,000 account and is also trading 2.0 lots. Since the Follower’s account size is 1/100th of the Provider’s account, the lot size must also be dropped by the same measure to reflect proper risk management. This tool is used to achieve this and is accessible on the Follower’s dashboard.
The Correction tool is used to define a maximum open volume for each position. This can only be applied to new positions and not to positions that are active. In other words, this tool is used to set a limit on the lot size that can be used to open a position.
The Risk Management tool is used to define certain acceptable risk standards that the Follower wants to comply with. These standards centre around:
Parameters (Total loss, Total profit and Floating loss),
Threshold (the limit for each of the chosen parameters in monetary terms),
Subscription action (choosing to suspend or unsubscribe from a Provider if there is a breach of the Parameters and the threshold values) and
Trading action (close all trades, keep all or close only unprofitable positions).
Start Your Copy Trade Journey Now
The copy trading concept remains the easiest way for investors without the time or knowledge to trade the financial markets to get some skin in the game. It shortens the learning curve and allows them to replicate the results of other experienced and profitable traders on the ATFX CopyTrade platform. It is akin to hitting the ground running, no matter your level of experience in financial trading.
To start earning from the financial markets immediately, you must strongly consider copy trading with the ATFX CopyTrade platform. ATFX has simplified signing up, selecting, and copying profitable traders. Sign up today by opening an account with ATFX.
FAQs
How does ATFX ensure the safety and security of my funds when copy trading?
No Provider will ever have access to your funds. ATFX is a regulated brokerage, licensed in various jurisdictions with account segregation for customers’ funds. These all add a measure of protection to ensure your funds are always safe.
How much money do I need to start copy trading?
You can start copy trading on ATFX for as little as $100. Generally speaking, you should ensure your account is adequately funded to match the trading style of the Provider you follow. For instance, if the Provider’s trades typically incur a 20% drawdown, you should take this into account when funding your account.
What markets are most suited to copy trading?
Copy trading can be done on any financial market. However, the most popular market for copy trading is the forex market.
Can I choose which traders to copy?
The very essence of copy trading is to provide you with the flexibility to choose which traders you want to copy. You are free to copy more than one Provider, and you can choose to change Providers anytime you want.
Can I still trade on my own while copy-trading?
Your regular ATFX trading account is different from your ATFX CopyTrade account, so you can trade on your regular account even while copy trading.
Is copy trading available for all financial instruments?
Copy trading is available for all financial instruments as long as you can find Providers who are also trading these instruments. When you copy more than one Provider, you can broaden the base of the financial instruments covered by your copy trading activity if those Providers are trading different markets.
Can I set my own risk management parameters while copy trading?
ATFX has a number of risk management tools to enable you to apply your own risk management even while copying trades from a Provider. Some of these tools have been mentioned in the article.
Can I customise my copy trading strategy to suit my own risk preferences?
You cannot customise a copy trading strategy to suit your own preferences as all strategies that translate into copied trades belong to the Provider. The best you can do is choose a Provider whose risk management techniques align with your preferences.
What happens if a trader I am copying incurs losses?
While you cannot reverse any losses incurred via copy trading, you can unsubscribe from a Provider who has hit a bad run of form.
Can I stop copying a trader at any time?
You can stop copying a trader at any time. There are two ways to do this. You can either click the Actions button on your dashboard and click on Unsubscribe in the drop-down menu, or you can use the Risk Management tool to set the parameters that must be breached for automatic cancellation of the subscription to kick in (Risk Management -< Subscription action -> Suspend/Unsubscribe)
What kind of returns can I expect from copy trading with ATFX?
Returns on forex trading are not guaranteed. Past results are also not indicative of future outcomes. Whatever returns you make depends on the profitability of any Providers you follow on the ATFX CopyTrade platform.
How do I withdraw my profits from copy trading?
You can withdraw any profits you have made (minus subscription fees) via the payment channels listed on the ATFX website.
Do I need any special knowledge or skills to copy trade?
Copy trading allows those without special skills or knowledge to benefit from the forex market. Therefore, you do not need any special knowledge or skills to copy trade if you intend to copy the trades of other experienced traders. You will be using the skills and knowledge of others to try to profit from the market.
Can I copy trade on my mobile device?
The ATFX CopyTrade portal is compatible with all smartphones. Therefore, you can copy trade on your mobile devices.
Can I copy trade with a demo account before using real money?
As it is, you can only copy trade with real money. If you want to try out the process before committing more capital, you can use a small amount in a live account.
Is copy trading legal?
Copy trading is legal.
What is the difference between copy trading and social trading?
Copy trading involves the automated copying of trades from other experienced traders without any manual input. Social trading is more like a community-based trading system where experienced traders provide signals, which followers have to implement manually on their accounts if they so desire.
Can I copy trade with multiple traders at the same time?
You can copy trade from multiple traders at the same time. However, you must factor in potential situations where your account has to handle several active trades from different traders. You must ensure your account is well-funded to handle such situations.
Will I be charged any additional fees for using copy trading?
You will have to pay a subscription fee to copy the Providers’ trades. Each Provider you follow will attract an extra fee.
Can I contact the traders I am copying for advice or guidance?
The copy trading portal works via automation, and there is no form of contact between Providers and Followers. Therefore, you will be unable to contact any Providers for advice or guidance. Some Providers have thousands of Followers, and it is not feasible for them to provide such guidance to every single Follower.
What is the minimum trade size when copy trading?
You can decide the minimum trade size that will be implemented on your account. In addition, some assets come with a minimum trade size. Generally speaking, 1 micro-lot (0.01 lots) is the minimum trade size you can apply to your account when trading currencies.
Can I follow providers from other countries?
The pool of Providers is formed from experienced traders who come from all over the world. The selection of Providers is not made on a country-specific basis so that you can follow Providers from other countries on the ATFX CopyTrade platform.
